India: Residential property launches dip by 30pct in 2012: Report

High property prices, relatively higher mortgage rates and overall weak business sentiment resulted in residential launches declining by 30 per cent in 2012 compared to 7 per cent in 2011 in top six markets of Delhi-NCR, Mumbai, Pune, Bangalore, Hyderabad and Chennai.
This was highlighted in the latest research report by real estate consultancy Knight Frank. Residential housing absorption in these cities also fell by 16 per cent during 2012 against 14 per cent in 2011. Among the top 6 cities, NCR led the residential market in terms of absorption as well as launches for the three-year period between 2010 and 2012………………………………………..Full Article: Source